Shield Raises $5 Million to Empower Businesses with International Crypto Transactions

Shield, a crypto neo-bank, led by Emmanuel Udotong, Isaiah Udotong, and Luis Carchi, has secured $5 million seed round led by Giant Ventures. Others in the round include Chris Dixon’s a16z’s crypto startup accelerator, Factor Capital, alongside Coinbase and Bank of America as strategic angel investors, raising a total of $7 million to date.

Launched in 2022 and pivoting to payments in 2024, the company enables exporters and importers to conduct cross-border transactions using U.S. cryptocurrencies while providing compliance screenings for sanctions and anti–money laundering risks.

Shield was founded to bring blockchain into real-world use, tackling slow, costly international payments with stablecoins. Co-founded by Emmanuel Udotong, his brother Isaiah, and friend Luis Carchi, the company targets trade businesses in regions like Latin America, Africa, and parts of Asia that face limited access to U.S. dollars and slow cross-border payments. Registered as a U.S. money service and EU crypto exchange, Shield has processed over $100 million in payments since launch, including $40 million in the past month, aiming to expand global trade access amid competition from startups and players like Xoom and Stripe Bridge.

Shield has raised $7 million to expand banking partnerships and scale its compliance offerings. Lead investor Giant Ventures was introduced through a fellow founder, with participation from a16z’s crypto startup accelerator, Factor Capital, Coinbase, and Bank of America as strategic angels. The funding will support licensing expansion, enhanced transaction monitoring, fraud detection, and growth of the compliance team. The company aims to give businesses in underserved regions a fair chance to compete globally, fostering growth, jobs, and local wealth creation.